-
New home sales rebound as resales dip
Michael J. Berens Construction & Building MaterialsIn a pattern all-too-familiar to builders and realtors, housing market activity flipped again in June, with the scales tilting up for new homes and down for resale homes. Sales of new homes surged in June following two consecutive months of dismal declines. On the other side of the market, tight inventories and rising prices put a dent in sales of existing homes, which similarly had trended upward in May after two previous months of negative growth. Despite mortgage rates remaining relatively low, affordability and availability continue to be the primary factors influencing consumers’ willingness to purchase a home.
-
Remodeling activity expected to slow in third quarter
Michael J. Berens Interior Design, Furnishings & FixturesHaving held relatively steady during the first half of the year, growth in home remodeling and renovation activity is expected to decrease somewhat in the months ahead. Fewer existing home sales and supply-side challenges such as a lack of skilled labor and rising costs have lowered demand for new projects. Unless those conditions improve, analysts say, the long-range forecast predicts a significant reduction in annual growth in 2020.
-
3 ways AR and VR are reshaping efficient work
Joseph Zulick Science & TechnologySome people believe that the entire concept of "work" will be reimagined and reexamined in the near future. In fact, "work" is already changing, and augmented reality (AR) and virtual reality (VR) are playing a significant role in that change. There are already large corporations and small businesses that are preparing for this shift, too. Here are some of the ways in which AR/VR will change the way work gets done in the near future.
-
Interior design activity trends positively in spring
Michael J. Berens Interior Design, Furnishings & FixturesComing off a slow start at the beginning of the year, interior design business activity surged in early spring. At present, activity is trending above that of last year, although modestly. Designers overall are optimistic conditions will remain positive going into the third quarter of the year. After three months of negative growth, the American Society of Interior Designers’ Interior Design Billings Index (IDBI) spiked more than 14 points in March, to 60.4.
-
Does location impact your interior design business?
Lloyd Princeton Interior Design, Furnishings & FixturesRecently, a client approached me with an intriguing business dilemma. They felt their firm could be commanding higher fees and earning more revenue if they moved to a more prosperous location. They wanted to know if I could help them determine where that location might be. It turned out that while there is not information about specific businesses, there is data showing some interesting patterns that firms may want to take into consideration when determining their location and evaluating how well they are performing.
-
Ikea finds for your music classroom
Aileen Miracle EducationSummer break is a great time to relax. But you can also use this time to think about your classroom for next year! I have found so many great ideas for organization at Ikea, so in today’s article, I’m sharing some of my favorite finds.
-
Falling mortgage rates lift home sales
Michael J. Berens Construction & Building MaterialsProspective homebuyers took advantage of a drop in mortgage rates in May to scoop up available inventory. Entry-level and lower-income buyers were especially eager to lock in a purchase in anticipation that lower rates will cause home prices to creep upwards again. It was only the second time this year that sales of existing homes increased month-over-month. New home sales, on the other hand, plummeted for the second month in a row.
-
Adapting hotel design for bleisure travel
Michael J. Berens Interior Design, Furnishings & FixturesOne the biggest trends in the hospitality industry today, bleisure travel has hotels vying with one another to lure travelers to their properties as destination locations suitable for combined business and relaxation activities. As is often the case in hospitality, they are adapting a hotel’s design as well as its operations to provide the atmosphere and amenities bleisure travelers are seeking. With demanding travel and work schedules, more and more of today’s business travelers, seeking to adjust their work-life balance, are extending their stays to engage in leisure and wellness activities.
-
EPA’s Energy Star program gets updates, new building certifications
Scott E. Rupp Facilities & GroundsThere have been several updates to the Environmental Protection Agency’s Energy Star program, including changes to the Star score. The score ranges from one to 100, which is the current national benchmark for energy performance. Per program guidance, facility managers and users enter information about their buildings into Portfolio Manager, the EPA’s online resource management tool that is used to assess the status of the application submitted. Then, using this information, which includes key operational details and actual energy use, Portfolio Manager calculates a score that compares a building’s energy performance to similar buildings nationwide.
-
Pace of remodeling stays brisk, spending softens
Michael J. Berens Interior Design, Furnishings & FixturesRemodeling activity in the first three months of this year exceeded that of the previous quarter, continuing an upward growth trend. Industry projections and homeowner surveys indicate demand for services should remain steady throughout the remainder of the year. However, annual growth is expected to be more modest than in recent years, and homeowners plan to cut back spending on some projects. For the 28th quarter in a row, MetroStudy’s Residential Remodeling Index (RRI) posted positive growth in the first quarter of 2019, up 0.7% from the previous quarter and 4.1% over the first quarter of 2018.
All Interior Design, Furnishings & Fixtures Articles